Kolkata-based Pagaria Power today said it is waiting for the new government formation in Maharashtra to take forward the proposal of putting up a power plant in the state.
"We are planning to set up a greenfield power plant in Maharashtra and will initiate discussion after the formation of the new ministry in the state," the company managing director Rajesh Pagaria said here today. Pagaria Power is in the process of putting up a 540 MW coal-based power plant at Shahdol in MP entailing an investment of Rs3,500 crore.
"In the second phase of capacity addition, we will go for projects having a minimum capacity of 1,000MW," Pagaria said when asked about the size of the Maharashtra project.
Pagaria Power, an arm of R S Pagaria Group, which is mainly into coal trading, has recently signed an agreement with the Madhya Pradesh Government for the Shahdol project and hope to complete the first phase of the project with 270MW generation capacity in 36 months from the zero date.
"The construction for the project is likely to start by the end of December this year," Pagaria said, adding that it would secure coal domestically to fire the Shahdol project.
However, the proposed plant in Maharashtra would be based on imported coal for which the company may look at entering into long-term contracts with suppliers in Indonesia, Mozambique and Vietnam.
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